DUTIES ACT 2001 - SECT 170
Value of co-owned land-holdings
DUTIES ACT 2001 - SECT 170
Value of co-owned land-holdings
170 Value of co-owned land-holdings
(1) If an entity’s land-holdings include land-holdings in which it has an
interest as co-owner, the unencumbered value of the interests of all co-owners
in the land-holdings must be included in working out the unencumbered value of
the entity’s land-holdings for section 165.
Note—
Even though the
unencumbered value of the interests of all co-owners of the land-holdings is
included for working out whether an entity is a landholder, only the
unencumbered value of the entity’s interest in the land-holdings is used
under division 4 for working out landholder duty imposed on the dutiable value
of a relevant acquisition. See section 184.
(2) However, subsection (1)
does not apply if the commissioner is satisfied that the co-ownership is not
intended to avoid the imposition of landholder duty.